GCB Block Trade Powers GSE Turnover Despite Broader Trading Slowdown

Institutional investors drove more than 70% of market value through GCB Bank, while MTN Ghana reached a fresh yearly high and financial stocks weakened.

A large institutional trade in GCB Bank dominated activity on the Ghana Stock Exchange (GSE) on Thursday, accounting for nearly three-quarters of market turnover as overall trading volumes retreated sharply from the previous session.

The market recorded 4.65 million shares valued at GH¢24.66mn, with GCB alone contributing GH¢17.71mn, or 71.84% of total turnover. The lender’s shares finished unchanged at GH¢43.20, indicating that the session’s value was driven by negotiated institutional transactions rather than broad retail participation.

While GCB led in value, Intravenous Infusions Plc (IIL) topped trading volumes after more than 3.21 million shares changed hands, representing 69.1% of all shares traded. The stock closed flat at GH¢0.86, suggesting strong liquidity despite sustained investor demand.

The market drew additional support from MTN Ghana, whose shares climbed 1.27% to a record GH¢7.15 for 2026, helping lift the GSE Composite Index by 72.12 points and extending its year-to-date return to 76.2%.

Financial stocks, however, moved in the opposite direction. Losses in CalBank, Société Générale Ghana and SIC Insurance pushed the GSE Financial Stocks Index down 25.88 points, although the benchmark remains up 77.42% for the year.

Elsewhere, Kasapreko advanced after investors responded positively to the beverage producer’s stronger half-year earnings, while Clydestone extended recent gains as the market continued to assess the implications of its ongoing legal dispute with MTN Ghana over alleged intellectual property rights.

Atlantic Lithium posted the session’s steepest decline, falling 7.14%, with additional losses recorded by CalBank, Société Générale Ghana, SIC Insurance and TotalEnergies Marketing Ghana.

The day’s headline figures nevertheless masked a significant cooling in market activity. Trading volume fell 74.72% and turnover dropped 79.71% from Wednesday’s exceptionally active session, reflecting the absence of the large MTN Ghana transaction that had previously inflated market statistics.

Thursday’s performance underscored a market increasingly shaped by selective institutional positioning, with GCB dominating turnover, IIL attracting the strongest trading interest by volume, and MTN Ghana continuing to underpin gains in the broader equity benchmark.